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PAUL M. WARBURG, CHAIRMAN ADVISORY COMMITTEE: ALLEN B. FORBES, CHAIRMAN F. H. GOFF HENRY C. FLOWER FREDERIC A. DELANO CAPITAL ISSUES COMMITTEE CHARLES S. HAMLIN OF THE W. T. CHAPMAN, SECRETARY IIRADLEY W. PALMER, COUNSIL FEDERAL RESERVE BOARD STEPHEN L. SELDEN EXECUTIVE SECRITAitY WASHINGTON JAMES Q. NEWTON ASST. EXECUTIYI SIC:.RE'URV :z -7 54 February 23, 1918. To the Chairman of the Sub-Committee en Capital Issues of Federal Reserve District No. Dec..r Sir: I send to you herewith copies of statements given to the press today. The form of instructions to applicants is merely a printer's proof. The Chairma~ has telegraphed you asking hOiv many copies of this fotm you desire for distribution in your district. It is expected that these forms will be forwarded on Monday next. Faithfully yours, Secretary.